<article>Singapore-based venture capital firm <a href="https://www.dealstreetasia.com/search/page/1?s=Grayscale%20Ventures&amp;sort_by=recent">Grayscale Ventures</a> announced that it has made the first close of its micro-fund for pre-seed investments at about $10 million.</article>

Singapore-based venture capital firm <a href="https://www.dealstreetasia.com/search/page/1?s=Grayscale%20Ventures&amp;sort_by=recent">Grayscale Ventures</a> announced that it has made the first close of its micro-fund for pre-seed investments at about $10 million.
The 10-year fund, which has a target of $20 million, focuses on AI, vertical SaaS and DevInfra-based (development infrastructure) startups. The fund is targeting a final close by Q3 this year, the firm said.
In a statement, Grayscale said it plans to invest $200,000 to $1 million in 15 to 20 startups at their pre-seed stage for 10% ownership of each company. It prefers to lead the rounds wherever possible or co-lead with other funds.
The firm was founded by Nikhil Kapur and Siddharth. The duo had been part of STRIVE, a Japanese early-stage venture firm, where the team had led several pre-seed rounds in India and Southeast Asia including the likes of Hasura, Classplus, 100ms, Saleswhale, and more.
Grayscale Ventures has already invested in a few SaaS companies including Olvy, a product feedback lifecycle management SaaS, and Localwell, mobile SaaS for Indian pharma retailers.
The firm is a global fund, domiciled in Singapore, with limited partners (LPs) from Japan, Southeast Asia, the US, and India. A majority of the limited partners (LPs) are founders and operators from firms like Zendesk, Hasura, Slack, GlobalWay, Nexus Venture Partners, and STRIVE.
The first close of Grayscale’s maiden fund comes as VC firms based in Southeast Asia closed 31 funds and raised $4.14 billion in total proceeds in 2022, according to the latest report from DealStreetAsia &#8211; DATA VANTAGE.
In 2022, ten debut funds held their final close, on par with 2019. The median and average size of these funds, however, have remained below pre-pandemic levels, as LPs favoured existing relationships over new ones.

Padma Priya

Singapore-based venture capital firm Grayscale Ventures has made the first close of its micro-fund for pre-seed investments at about $10m.

SG's Grayscale Ventures raises $10m so far for debut micro VC fund

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SG's Grayscale Ventures raises $10m so far for debut micro VC fund

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